CHESSNOID

Over a year ago, I blogged about the coming US and global recession created by the housing bubble and bust.  This was knowledge I learned by reading other bloggers posts.  The government was making poor decisions that was creating a climate for a severe recession.

There were other bloggers who I thought were more negative at that time predicting a depression.  That seemed highly unlikely at that time, but now that we are living in this severe recession it is easier to see that it can happen.  Now that I see President Obama and Congress taking the wrong action to try to stimulate the economy, I now realize their decisions will push us into a depression worse than the Great Depression.

CNBC House of Cards

Unfortunately, President Obama is taking the exact same actions as President Bush and his cabinet did: deficit spending, tax cuts, and maintaining artificially low interest rates.  More of the same will equal more of the same.  Only in this case, Obama is starting with an economy that is already in a recession, while Bush did not.

I have even noticed that he has gone away from his hope and change cheer leading tactics that got him elected, and is literally doing a “George Bush” fear mongering impersonation.  The same fear rhetoric that was used by Bush to get us into 2 wars, is now being used by Obama to pass a trillion dollar bill that doesn’t not have the confidence of Congress or the American people.

WASHINGTON (Reuters):

President Barack Obama may think words like “catastrophe,” “crisis” and “disaster” help sell his economic rescue plans, but U.S. history has shown that scare tactics can backfire.

Having campaigned on a promise of hope and run against what he called President George W. Bush’s “politics of fear,” Obama may be taking a big political risk — for himself and his policies — by resorting to the same tactic.

In pressing Congress and the public to back expensive proposals, Obama has used the well-worn political rhetoric of fear to paint dire scenarios, hoping to persuade skeptics of the need for quick action. It may work, and it may not.

“That end-of-the-world type of rhetoric is not good for business confidence,” said Chris Edwards, director of tax policy studies at the Cato Institute.

Critics accused Bush and Vice President Dick Cheney of scaring the public to push through programs that trod on civil liberties in the name of national security.

We have had Congressman Ron Paul speaking candidly about the economy for many years. Now that what he has predicted has come true, he is getting more air time. Every time I listen to him, it is easier to see what got us into this mess and what we need to do to get out of it.

Ron Paul Video